by Jeff Berwick, The Dollar Vigilante:
Last year, we were the first financial site to explain how the Shemitah seven-year cycle would have an important and disastrous effect on the markets. The Shemitah ended in the third quarter of last year and just as we predicted, it was the worst quarter in worldwide stock markets since the last Shemitah in 2008.
Since then we have been the leader in explaining further Shemitah trends embedded in the once-every-49-year, Jubilee Year. The Jubilee Year ends on October 2nd of this year, and we expect even worse events to occur as October approaches.
Now, famous investor, Jim Rogers, has just released a new warning saying the same. He is even using biblical references to warn of a financial tsunami that could take place either this year or next. He has just said, “A $68 trillion ‘Biblical’ collapse is poised to wipe out millions of Americans.”
Rogers co-founded the Quantum Fund with George Soros in the early 1970s. The fund generated returns of 4,200 percent over 10 years and made fortunes for both men. Soros and Rogers, having worked together for so long, probably both have access to information the regular person doesn’t. Soros recently was in the news for shorting the stock market and making gold his largest held asset and predicting an impending crisis.
Now, just this week, Jim Rogers has said the same and was quite outspoken about how it was written in the Bible. He referred to a biblical quote from the Book of Joshua: “You are under a curse now. You will always be servants. You will be woodcutters and water carriers for the house of my God.”
The amount of people predicting an imminent collapse is getting larger and larger! Especially considering that it was less than a year ago that we were almost alone in talking about it. Carl Icahn, Stanley Druckenmiller and Soros himself, to name a few have now come to similar conclusions. Each of these individuals has placed significant funds in gold and gold-related securities. Soros has gone so far as to actively short the stock market. Their messages are similar to Rogers who sees economic turmoil descending that will actually bankrupt whole nations.
Rogers believes the situation is much worse than 2008, when major economies had dollar resources in reserve. Those countries like China and Japan have spent down much of their reserves. Thus, it won’t just be the US or Europe that suffers from the next wave of market insolvency: This time the entire world is going to be relatively helpless. There are not going to be patches of prosperity as in 2008.
He predicts that the UK will “collapse” while countries like Italy will face bankruptcy. He has pointed out that stock market breadth began to contract in the middle of 2014 and hasn’t ceased. This calls for the only remedy that Wall Street knows: additional money printing.
But right now the Fed is trying to move in the opposite direction, toward tightening. What central bank officials see as “recovery,” however, is merely the result of artificial money printing and debt expansion. The looming disaster that is about to hit is imminent because in the US “recoveries” don’t last more than seven years at the outside.
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